Existing Home Sales lowest since January 2004

The pace of existing U.S. home sales fell more than expected in July as a measure of the supply of unsold homes was the highest in over 13 years, signaling a deepening housing sector downturn, a trade group report showed on Wednesday. The inventory of unsold homes on the market swelled to a 7.3-month supply, the most in more than a decade.
Source: NYT & Reuters